The board of directors at MarineMax approved a new plan that authorizes the company to repurchase as many as 1.25 million shares of its common stock during the period from today through Sunday.
The new plan replaces an April 2015 plan that authorized the repurchase of as many as 1 million shares; 772,716 shares were repurchased.
Under the new plan the company may purchase common stock from time to time in the open market or in privately negotiated block purchase transactions, the company announced.
MarineMax said the amount and timing of purchases will depend on factors that include the price and availability of the company's shares and general market conditions.
As of Jan. 31 the company had 24,229,851 shares of common stock outstanding.